TMC vs. NAK

Last updated Apr 1, 2026

Compare and contrast key facts about TMC the metals company Inc. (TMC) and Northern Dynasty Minerals Ltd. (NAK).

Performance

TMC vs. NAK - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in TMC the metals company Inc. (TMC) and Northern Dynasty Minerals Ltd. (NAK). The values are adjusted to include any dividend payments, if applicable.

TMC vs. NAK - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
TMC TMC the metals company Inc.	-24.31%	450.89%	1.82%	42.86%	-62.98%	-77.90%
NAK Northern Dynasty Minerals Ltd.	-28.93%	238.78%	79.86%	46.42%	-32.31%	-35.55%

Fundamentals

Market Cap TMC : $1.80B NAK : $770.03M
EPS TMC : -$0.83 NAK : -$0.15
Total Revenue (TTM) TMC : $0.00 NAK : $0.00
Gross Profit (TTM) TMC : -$57.00K NAK : -$85.85K
EBITDA (TTM) TMC : -$293.79M NAK : -$78.62M

Returns By Period

In the year-to-date period, TMC achieves a -24.31% return, which is significantly higher than NAK's -28.93% return.

TMC

• 1D: 13.90%
• 1M: -25.52%
• YTD: -24.31%
• 6M: -26.69%
• 1Y: 171.51%
• 3Y*: 77.94%
• 5Y*: —
• 10Y*: —

NAK

• 1D: 10.24%
• 1M: -9.68%
• YTD: -28.93%
• 6M: 16.67%
• 1Y: 21.74%
• 3Y*: 80.31%
• 5Y*: 16.53%
• 10Y*: 15.05%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Return for Risk

TMC vs. NAK — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

TMC

TMC Risk / Return Rank: 83
TMC Sharpe Ratio Rank: 82
TMC Sortino Ratio Rank: 88
TMC Omega Ratio Rank: 81
TMC Calmar Ratio Rank: 85
TMC Martin Ratio Rank: 79

NAK

NAK Risk / Return Rank: 54
NAK Sharpe Ratio Rank: 48
NAK Sortino Ratio Rank: 59
NAK Omega Ratio Rank: 61
NAK Calmar Ratio Rank: 51
NAK Martin Ratio Rank: 49

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

TMC vs. NAK - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for TMC the metals company Inc. (TMC) and Northern Dynasty Minerals Ltd. (NAK). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	TMC	NAK	Difference
Sharpe ratio Return per unit of total volatility	1.36	0.18	+1.18
Sortino ratio Return per unit of downside risk	2.59	1.13	+1.46
Omega ratio Gain probability vs. loss probability	1.29	1.16	+0.13
Calmar ratio Return relative to maximum drawdown	2.78	0.37	+2.41
Martin ratio Return relative to average drawdown	5.57	0.66	+4.92
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMC vs. NAK - Sharpe Ratio Comparison

The current TMC Sharpe Ratio is 1.36, which is higher than the NAK Sharpe Ratio of 0.18. The chart below compares the historical Sharpe Ratios of TMC and NAK, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TMC	NAK	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.36	0.18	+1.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.20	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.15	—
Sharpe Ratio (All Time) Calculated using the full available price history	-0.13	-0.03	-0.09

Correlation

The correlation between TMC and NAK is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

TMC vs. NAK - Dividend Comparison

Neither TMC nor NAK has paid dividends to shareholders.

Tickers have no history of dividend payments

Drawdowns

TMC vs. NAK - Drawdown Comparison

The maximum TMC drawdown since its inception was -95.58%, roughly equal to the maximum NAK drawdown of -99.01%. Use the drawdown chart below to compare losses from any high point for TMC and NAK.

Drawdown Indicators

	TMC	NAK	Difference
Max Drawdown Largest peak-to-trough decline	-95.58%	-99.01%	+3.43%
Max Drawdown (1Y) Largest decline over 1 year	-61.65%	-67.68%	+6.03%
Max Drawdown (5Y) Largest decline over 5 years	—	-68.85%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-93.79%	—
Current Drawdown Current decline from peak	-62.49%	-93.36%	+30.87%
Average Drawdown Average peak-to-trough decline	-80.48%	-73.78%	-6.70%
Ulcer Index Depth and duration of drawdowns from previous peaks	30.77%	38.08%	-7.31%

Volatility

TMC vs. NAK - Volatility Comparison

TMC the metals company Inc. (TMC) and Northern Dynasty Minerals Ltd. (NAK) have volatilities of 23.95% and 25.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMC	NAK	Difference
Volatility (1M) Calculated over the trailing 1-month period	23.95%	25.14%	-1.19%
Volatility (6M) Calculated over the trailing 6-month period	76.46%	85.88%	-9.42%
Volatility (1Y) Calculated over the trailing 1-year period	126.69%	119.51%	+7.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	114.15%	83.25%	+30.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	114.15%	98.15%	+16.00%

Financials